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MARKET DUMPS BAILOUT! track this thread

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MARKET DUMPS BAILOUT!

Wow! After being bailed out, the market DROPS!! Who would have thought that our tax dollars being flooded into the market would send it from 250 UP to 157 DOWN?

Maybe the market knows that what was passed today was not going to bring utopia! Socialism of the market maybe! Remember, the government now owns 50% of all homes in America...$5T worth!

Stories

8 Stories

  • October 2008

    • Street Shrugs Off Bailout OK

      MarketWatch  |  Oct 3, 08 3:35 PM CDT

      Street Shrugs Off Bailout OK

      (Newser) - Investors were feeling finicky today, pushing stocks higher by 300 points after the House approved the revised $700 billion bailout, then reversing the gains and moving the major indices to sharp weekly losses, MarketWatch says. The Dow dropped 157.15 to 10,325.70. The Nasdaq lost 29.33, finishing at 1,947.39, and the S&P fared no better, losing 15.05 to 1,099.23. More »

    • Bush Moves Quickly, Signs Bailout Bill Into Law

      Los Angeles Times  |  Oct 3, 08 3:00 PM CDT

      Bush Moves Quickly, Signs Bailout Bill Into Law

      (Newser) - Less than 2 hours after the House passed the $700 billion bailout bill, President Bush signed it this afternoon. With a stroke of a pen, he set in motion $110 million in tax cuts and sent the legislators on both sides of the 263-171 vote home to explain themselves to their constituents just over a month before Election Day, the Los Angeles Times reports. More »

    • O'Reilly Berates Frank in On-Air Shouting Match

      Chicago Tribune  |  Oct 3, 08 1:16 PM CDT

      O'Reilly Berates Frank in On-Air Shouting Match

      (Newser) - Bill O’Reilly has called for the resignation of House Financial Services Chairman Barney Frank, so it was a predictably tense situation when the Massachusetts Democrat appeared on his show last night. A remarkable shouting match ensued, even by O’Reilly’s standards. The Fox host quickly began screaming at Frank over comments that the situation at Fannie Mae and Freddie Mac would improve. More »

    • Revised Bailout Bill Easily Clears House, 263-171

      Washington Post  |  Oct 3, 08 12:49 PM CDT

      Revised Bailout Bill Easily Clears House, 263-171

      (Newser) - The House passed the revised $700 billion buyout plan this afternoon, 263-171, raising hopes that the economy will be able to fend off a recession, reports the Washington Post. After 5 days of arm-twisting, 26 Republicans switched their no votes; a total of 91 joined 172 Democrats in backing the legislation today. Within minutes, President Bush said he'll sign it as soon as Congress gets it to him. More »

    • Stocks Rise on Opening Bell

      Wall Street Journal  |  Oct 3, 08 8:48 AM CDT

      Stocks Rise on Opening Bell

      (Newser) - Stocks climbed higher today, buoyed by Wells Fargo’s deal to snatch Wachovia from Citigroup. The Dow is up more than 100 points in early trading, while the Nasdaq and S&P rose 1.7% and 1.5%, respectively. Seemingly ignored was a worse-than-expected employment report, which showed the sharpest drop in nonfarm payrolls since 2003, the Wall Street Journal reports. Many investors were also remaining on the sidelines, awaiting today's House bailout vote. More »

    • California, Out of Cash, Begs for $7B From Treasury

      Los Angeles Times  |  Oct 3, 08 8:28 AM CDT

      California, Out of Cash, Begs for $7B From Treasury

      (Newser) - California is almost out of cash, Gov. Arnold Schwarzenegger warned the Treasury Department yesterday, and may need an emergency loan of up to $7 billion from the federal government, the Los Angeles Times reports. California is the largest of several states locked out of the bond market by the credit crunch, and officials said that payments to schools and government agencies could be cut off. More »

    • House Steels for High Noon Bailout Vote

      Washington Post  |  Oct 3, 08 1:50 AM CDT

      House Steels for High Noon Bailout Vote

      (Newser) - Leaders and lobbyists are scrambling to marshal support for the revamped bailout bill before it returns to the House at midday today, the Washington Post reports. Democratic and GOP chiefs believe they can sway enough votes to swing it—although only a few have switched so far. Some Republicans who backed it the first time around are considering nixing it this time, annoyed by the tacked-on special-interest tax breaks. More »

    • Fed Weighs Emergency Rate Cut

      Wall Street Journal  |  Oct 2, 08 9:28 AM CDT

      Fed Weighs Emergency Rate Cut

      (Newser) - Mounting fears that the credit crisis and continually worsening economic data will push a stagnant US economy into a severe recession has spurred the Federal Reserve to consider cutting interest rates from their current 2%, the Wall Street Journal reports. Even if the House follows the Senate in passing the $700 billion bailout, some action is likely. More »

8 Stories

House Financial Services Committee Chairman Rep. Barney Frank, D-Mass., center, speaks during a news conference on the passage of the historic legislation to bail out the financial industry on Capitol...   (AP Photo)
Trader Gregory Rowe, right, works on the floor of the New York Stock Exchange, Monday afternoon Sept. 29, 2008. Fear swept across the financial markets Monday, sending the Dow Jones industrials down nearly...   (AP Photo)
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